GF Fund Management CO. LTD. Makes New Investment in CVS Health Co. (NYSE:CVS)

GF Fund Management CO. LTD. acquired a new position in CVS Health Co. (NYSE:CVS - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 32,180 shares of the pharmacy operator's stock, valued at approximately $1,445,000.

A number of other hedge funds have also recently made changes to their positions in the business. Stonebridge Financial Group LLC bought a new stake in CVS Health during the 4th quarter valued at $28,000. Hopwood Financial Services Inc. bought a new position in CVS Health in the 4th quarter worth $29,000. McIlrath & Eck LLC raised its holdings in CVS Health by 32.6% in the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock worth $32,000 after purchasing an additional 174 shares in the last quarter. Financial Perspectives Inc raised its holdings in CVS Health by 137.5% in the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock worth $36,000 after purchasing an additional 466 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. raised its holdings in CVS Health by 112.1% in the 4th quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator's stock worth $37,000 after purchasing an additional 437 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Stock Up 0.4%

CVS Health stock traded up $0.27 during trading hours on Thursday, hitting $62.72. The stock had a trading volume of 10,415,249 shares, compared to its average volume of 11,289,475. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $79.34 billion, a P/E ratio of 17.14, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $72.51. The stock's 50-day moving average price is $65.76 and its 200-day moving average price is $59.48.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.63. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The firm had revenue of $94.59 billion during the quarter, compared to analyst estimates of $93.07 billion. During the same period in the previous year, the business posted $1.31 earnings per share. The business's revenue for the quarter was up 7.0% on a year-over-year basis. Equities research analysts anticipate that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were paid a $0.665 dividend. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.24%. CVS Health's dividend payout ratio is presently 63.48%.

Wall Street Analysts Forecast Growth

CVS has been the subject of several research reports. Wolfe Research upped their price objective on shares of CVS Health from 67.00 to 70.00 and gave the stock an "overweight" rating in a report on Tuesday, February 11th. Cantor Fitzgerald raised shares of CVS Health from a "neutral" rating to an "overweight" rating in a research report on Wednesday, February 12th. Robert W. Baird upped their target price on shares of CVS Health from $51.00 to $71.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 15th. Cowen reaffirmed a "buy" rating on shares of CVS Health in a research report on Monday, May 5th. Finally, Leerink Partnrs raised shares of CVS Health from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 12th. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $74.94.

Insider Transactions at CVS Health

In related news, SVP James David Clark sold 7,513 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total transaction of $498,487.55. Following the completion of the sale, the senior vice president now directly owns 8,394 shares in the company, valued at approximately $556,941.90. The trade was a 47.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.22% of the company's stock.

CVS Health Profile

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.